Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Midwest Agents Say FEMA Creating Flood Insurance Confusion
Jul 12 2011 // Insurance agents in states along the swollen Missouri River basin say federal officials are causing widespread confusion among property owners by pushing the sale of flood insurance policies that might not cover damage...
Federal Court Upholds Umbrella Insurer in Asbestos Coverage Dispute
Jul 11 2011 // A federal appeals court has agreed that Continental Insurance Co. did not have a duty to defend asbestos injury claims against the automotive supplier Federal–Mogul Corp. as its umbrella carrier because the primary...
U.S. Hurricane Season Could Be Market Tipping Point: Marsh
Jul 11 2011 // Reacting to the recent spate of major natural catastrophes, insurers are being more selective in the capital they deploy and have in some cases withdrawn from catastrophe affected regions and loss-making sectors of...
U.S. Considers Removing All Tariffs for Poor Nations
Jul 8 2011 // The U.S. government said on Friday it is investigating the probable economic effects of eliminating all tariffs and quotas on goods from the world’s least-developed countries (LDCs). The U.S. International Trade...
Alterra Bermuda Approved for Reduced Collateral Status in New York
Jul 8 2011 // Alterra Capital Holdings Limited announced that the State of New York Insurance Department has approved Alterra Bermuda Limited “as an eligible reinsurer for reduced collateral status, which allows lower collateral...
Liberty Mutual Sues Goldman Over Freddie Mac Investment Losses
Jul 8 2011 // Boston-based Liberty Mutual Insurance Co. and several of its subsidiaries have sued investment banker Goldman, Sachs & Co. for “making materially misleading statements and omissions” in a preferred stock...
La Nina, Blamed for US South Drought, May Revive this Autumn
Jul 7 2011 // The La Nina weather anomaly, blamed for one of the worst droughts in the southern United States, could revive this autumn, the U.S. Climate Prediction Center forecast on Thursday. In its monthly report, the CPC said wind...
$750M Settlement Reached with U.S. Farmers over Genetically Modified Rice
Jul 7 2011 // A settlement of up to $750 million has been reached with the German conglomerate Bayer CropScience on behalf of U.S. rice farmers in a series of rice contamination lawsuits, according to Don Downing, an attorney with Gray,...
P/C Insurers Can Handle Muni Bond Stress: Moody’s
Jul 7 2011 // The U.S. property/casualty insurance industry, which has about 60 percent of its equity capital base or — $355 billion– in municipal bonds remains exposed to disruptions in this asset class, but the overall...
Reinsurance Prices Flat Except in Catastrophe Regions: Aon
Jul 7 2011 // First quarter catastrophes didn’t halt decreases in most U.S. reinsurance renewal programs, except in regions hard hit by significant catastrophe events, according to a report by a leading reinsurance intermediary....
Berkshire Joins Group Bidding for Citi Consumer Loan Unit: WSJ
Jul 6 2011 // Warren Buffett’s Berkshire Hathaway Inc. has joined the group bidding for Citigroup Inc.’s consumer lending unit, the Wall Street Journal said Wednesday, citing people familiar with the matter. Berkshire has...
New Swiss Re sigma study Reveals Global Premium, Capital Growth
Jul 6 2011 // A new study in Swiss Re’s sigma series concluded that the global insurance industry has returned to a pattern of growth. The study – World insurance in 2010 – reveals growth in global premium volume and...
California Workers’ Compensation Law Draws Scrutiny with NFL Case
Jul 5 2011 // A leading Republican in the California State Legislature said he will push for an overhaul of a state labor law that makes the Golden State a magnet for workers’ compensation claims by injured former professional...
U.S. Risk Insurance Group Names Zechlin Senior Broker
Jul 5 2011 // U.S. Risk Insurance Group Inc., the eighth largest managing general agency and surplus lines wholesaler in the nation, announced that it has named Margaret Zechlin as senior broker in San Francisco. She will work on all...
U.S. Wary of Possible Cuba Oil Spill
Jul 5 2011 // With Cuba preparing to explore for oil 60 miles from Florida, the complicated politics of U.S.-Cuba relations are impeding U.S. efforts to get ready in case of a BP-style accident, analysts and oil experts said. The Obama...
U.S. Official Calls for Legal Framework to Fight Cyber Crime
Jul 5 2011 // Cyber criminals are outwitting national and international legal systems that fail to embrace technological advances, a top U.S. official said on Friday, demanding a cross-border campaign to combat the security...
Marsh Risk Consulting Launches Information Protection, IP Coverage
Jul 5 2011 // The protection of critical information and intellectual property (IP) can determine the success or failure of even the most established firms. The advent of cloud computing, social networking, outsourcing, and other modern...
Cyber World
Jul 4 2011 // Barely a day goes by without news of another data breach at a major corporation or institution. From Sony to Citicorp and the International Monetary Fund to the U.S. Senate, systems have proved vulnerable to hackers with...
P/C Insurers’ Profits Fell in Q1 as Underwriting Losses Grew
Jul 4 2011 // Private U.S. property/casualty insurers’ net income after taxes dropped to $7.8 billion in first-quarter 2011 from $8.9 billion in first-quarter 2010, with insurers’ annualized rate of return on average...
Cyber World
Jul 4 2011 // Barely a day goes by without news of another data breach at a major corporation or institution. From Sony to Citicorp, and the International Monetary Fund to the U.S. Senate, systems have proved vulnerable to hackers with...
